I was thinking about the Inox Wind Ltd merger with holding co’ Inox Wind Energy Ltd and decided to write down what’s happening on the front, mainly to structure my own thinking because on the day of the announcement I had initiated a tracking position on IWEL
5 months down the line I wanted to know if my thesis was intact and I think If the merger goes through at current share prices, IWEL is like a discount coupon on purchase of Inox Wind Ltd
The rationale for the same along with merger arbitrage math has been explained in more detail on my substack in case you’re interested.
Would love to hear feedback on the same. Thanks
Rahul
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